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Billionaire investor Bill Ackman still likes Netflix (NFLX) stock despite a challenging year that has sent the stock reeling. "We like it," the well-known value investor and Pershing Square Capital Management CEO said at Yahoo Finance Invest. "That's a super cheap stock. And this was a company trading on mid-thirties or 30-plus times earnings, and today it's at 16, 17 times earnings. The business remains quite strong." Ackman purchased Netflix shares in the second quarter. As of Thursday, the stock was down 33% this year. Ackman sees several catalysts ahead for Netflix shares. "I think passage of time, continued earnings growth, cash flow, revenues, and some additional content wins.
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